The Top Cities Where the Ultrawealthy Bought Second Homes in 2025
The ultrawealthy have always had a flair for choosing the most luxurious and desirable places to invest in second homes, whether for personal retreats, portfolio diversification, or securing global mobility. In 2025, Altrata found that the trend is shifting, with new hotspots emerging as favorite destinations for the world’s richest. Let’s dive into the cities that are currently seeing the most interest from the ultrawealthy.
Munich, Germany
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Discretion drives demand in this Bavarian city. Economic strength and close access to the Alps support long-term appeal. Strong infrastructure, healthcare, and political stability reinforce property security. Many ultrawealthy buyers choose it for privacy, safety, and reliable value growth. The focus here is wealth preservation and quality living rather than high visibility or showpiece estates.
Beijing, China
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Access to influence drives much of the interest. As China’s political center, this city holds strategic importance for investors who want direct proximity to national power structures. Hong Kong may lead in second-home numbers, yet demand here remains strong. For many buyers, the decision centers on positioning within China’s long-term economic landscape.
San Jose, California
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Home to Silicon Valley, San Jose remains a prime destination for tech moguls and business elites seeking second homes. The city’s proximity to major tech companies like Apple, Google, and Facebook makes it a strategic location for industry leaders. Additionally, it offers stunning views, outdoor recreation, and a perfect mix of innovation and nature. Though the real estate market can be competitive, it’s an ideal spot for those wanting to combine business and leisure.
Zurich, Switzerland
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Few cities offer this level of financial stability and order. Lake views and Alpine access support a high quality of life, while global banking institutions strengthen investor confidence. Ultrawealthy buyers often prioritize security and long-term asset protection. The appeal rests less on spectacle and more on reliability, structure, and quiet wealth preservation.
San Francisco, California
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San Francisco continues to attract tech wealth. Its connection to Silicon Valley keeps executives and investors anchored nearby. Buyers appreciate the views, established neighborhoods, and access to Napa Valley and coastal retreats. Property prices remain competitive, but the city’s mix of culture, business, and natural beauty keeps demand steady among those who want both influence and lifestyle.
Paris, France
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Paris remains timeless. Despite higher taxes and regulations, buyers still see value in owning property in a city known for art, cuisine, and heritage. For many ultrawealthy individuals, a Paris home represents cultural status as much as investment. The appeal lies in its history, architecture, and global prestige. It continues to hold emotional and financial value.
Los Angeles, California
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Los Angeles attracts buyers who want space, sunshine, and privacy. Neighborhoods like Beverly Hills, Bel Air, and Malibu offer ocean views and gated estates. The entertainment industry adds influence, while the climate supports year-round outdoor living. The market is competitive, yet buyers continue to invest for lifestyle flexibility and long-term luxury property appreciation.
Hong Kong
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Despite its challenges, Hong Kong remains a top destination for ultrawealthy buyers due to its status as a global financial hub. The city’s proximity to mainland China makes it a strategic base for business, while its world-class infrastructure, such as the Hong Kong International Airport and efficient public transport system, ensures ease of access for international travelers. The luxury real estate market is booming, with areas like The Peak and Repulse Bay offering some of the most coveted properties in Asia.
Geneva, Switzerland
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Political stability strengthens its reputation. International organizations headquartered here add diplomatic weight, while Alpine proximity supports leisure travel. Buyers seeking discretion often favor this setting. Wealth preservation and personal security rank high among motivations. A second home in this city signals a preference for neutrality, privacy, and structured global engagement.
Naples, Florida
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Naples may be smaller than Miami, but it has built a reputation for privacy, exclusivity, and luxury. Its pristine beaches, world-class golf courses, and enclaves like Port Royal and Aqualane Shores appeal to those who prefer a quieter yet upscale Florida lifestyle. Nearly 95% of its ultrawealthy residents own second homes here, underscoring its appeal.
Dubai, United Arab Emirates
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Dubai continues to attract global wealth with its tax advantages and rapid development. Landmarks like the Burj Khalifa and Palm Jumeirah anchor a luxury property market designed for international buyers. The UAE Golden Visa program adds long-term residency benefits. Investors appreciate the city’s connectivity, retail strength, and focus on large-scale, high-end real estate projects.
Lisbon, Portugal
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Lisbon has gained significant appeal among UHNW buyers in recent years, thanks to its blend of historic charm, Mediterranean weather, and relatively affordable luxury. The city’s real estate market has seen a surge in demand, with upscale areas like Avenida da Liberdade and Príncipe Real offering luxury homes. Lisbon’s rich history is on display with landmarks such as the Belém Tower and the historic Jerónimos Monastery.
London, United Kingdom
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London remains a global anchor for wealth despite higher taxes and political uncertainty. Its financial markets, international schools, and cultural institutions sustain long-term appeal. Areas like Mayfair and Knightsbridge continue to draw buyers seeking prestige and connectivity. Heathrow’s global reach strengthens its position as a practical base for international travel and business.
New York, New York
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No other city hosts as many ultrawealthy residents. Financial dominance and cultural influence sustain its relevance. Second-home ownership numbers trail Miami, yet demand remains significant. Buyers often maintain property here to stay close to Wall Street and major institutions. The city’s global reach preserves its position within elite real estate markets.
Miami, Florida
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No surprise here: Miami remains a top choice for UHNW individuals seeking second homes. The city’s warm climate, averaging 77°F year-round, and its lack of state income tax offer significant financial benefits. Miami’s luxury real estate market includes iconic properties in neighborhoods like Fisher Island, Miami Beach, and Coral Gables. Beyond the beaches, the city is renowned for its cultural scene, world-class dining, and top-tier shopping districts, such as the Design District and Bal Harbour Shops.